Velosio | Business Central with Advanced Project Accounting 1

■ Project Accounting■ Quoting/Estimating■ Project Budgeting■ Project and Resource Management

■ Mobile Time and Expense Entry■ Flexible Billing■ Analytics & Reporting

(through Power BI)■ Plus Business Central Capabilities:

financials, sales, service, supplychain, and manufacturing

■ Consulting Services■ Software Development & Services■ Professional Services■ Research and Development■ Convention Centers■ Visitors’ Bureaus■ Sporting Events Organizations■ Staffing Firms■ Nonprofits■ Make-to-Order Manufacturers■ Distributors

Rely on the Power of the Cloud to Drive Greater Revenue and ProfitsYour small-to-medium-sized professional services or other project-based firm has specific needs when it comes to managing your business. Because time is literally money, it’s critical that you are able to track employee productivity, ensure projects are on schedule and on budget, and understand what projects are most profitable—or not.

Microsoft Dynamics 365 Business Central and Progressus Advanced Project Accounting deliver a comprehensive, cloud-based business management solution designed for today’s project-based businesses. Connect critical functions such as financials, sales, purchasing, operations and inventory with advanced project accounting functionality to address the complexity of tracking and billing the myriad costs and expenses associated with your projects.

Business Central with Progressus is particularly suited for organizations that are stretching the limits of their current ERP or accounting software or are ready to replace an outdated system with a modern cloud-based solution. It has powerful integrations with other Microsoft software and tools including Office 365, Excel, Outlook, Power BI Dashboards, Microsoft Flow, and PowerApps.

■ Eliminate data silos■ Automate processes■ Enable users to quickly view data and take action (even remotely)■ Make faster, smarter decisions with modern analytics

Plus, with advanced project accounting and the ability to better track and analyze projects and engagements, you will see improvements in efficiency, client satisfaction, employee morale, and business profitability. Below are capability details.

© 2019 Velosio, LLC v1

Microsoft Dynamics 365 Business Central with Advanced Project Accounting

Capabilities

CLOUD-BASED ERP DESIGNED FOR PROFESSIONAL SERVICES AND PROJECT-BASED ORGANIZATIONS

Ideal Companies

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Project Setup WizardCreate projects in a few clicks using the Project Setup Wizard to start a quote or project. The wizard ensures that the project is correctly created with required information entered and validated.

Customizable Project Number Creation

Create one or more project numbering series for different types of projects to help view and monitor projects.

Pre-activitiesStart the project process before a customer commits to the project. Create quotes that may or may not become projects to create budgets and record work against. The project and budget can be weighted according to the pipeline probability.

Activity TemplatesPrevious project plans or defined templates can be applied to a project from a fully user-configurable library of templates. Combine multiple templates into one larger template so the project develops as it progresses. This helps ensure the structural integrity of the projects, methods & processes and keeps the overhead low.

Flexible Project and Task Structure

Design projects to fit the way you do business by defining a flexible nested task structure. Project structures can include factors such as client, job, phase, task, work breakdown, and work types to allow better visibility into project performance.

Customizable Dimensions Load existing or create new dimensions to record information for a project.

Internal & Customer Projects

Setup projects for internal or customer-facing projects.

Accounting and Project Integration

Simplify timely analysis and project accountability by providing a single system for project managers and accountants.

Task Dependencies Setup dependencies between tasks to influence budget creation. Permissions are setup at the task level for items like budgets and time entry.

Pricing Discounts Discount levels can be setup for resources, customers, items and expenses.

Flexible Invoice Formats Choose from predefined invoice formats or create custom formats based on the customers’ needs. Includes support for milestone biling.

Project Setup

Advanced Project Accounting Capabilities

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Track Your Budget Effectively

Manage the progress of your project budgets from creation through completion with clear visibility. Progressus supports creating budgets for resources, resource groups, items and expenses.

Copy Budgets Copy budgets from previous projects or budget templates to speed up the beginning budget process.

Unlimited Budget Revisions

Unlimited Budget revisions are easily tracked and automatically update project statistics such as net profit and margin percentage. Pre-activities such as time, expenses and items can be entered on a project with a separate budget revision, in addition to the ability to set a separate status for activities and the project(s). Manage your budgets more profitably. Easily monitor and enter budget revisions of the current estimate-at-completion and forecast projections.

Budget MatrixBudget Matrix displays the tasks for a project and allows for budgeting at the level required by the customer. (Examples: daily, weekly monthly, quarterly, etc.). The matrix makes it easy to make budgets based on quantity and to see available capacity while creating a budget. Progressus makes it possible to split a resource group budget to resources or resource groups.

Increase Estimating Accuracy

Compare budget detail with actuals at the completion of your project down to the task level. By measuring the accuracy of your budget and evaluating the impact on your profitability, you can easily fine-tune your bidding process to ensure future competitive bids.

Integration to Quotes

Generate Sales Orders based on specific activities and estimates created by budgets and budget revisions. Project estimates can be dynamically controlled using budget revisions with full integration to the sales order where it is possible to generate orders based on specific activities and estimates.

Project Budgeting

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Resource Management

Resource & Qualification Definition Define resources and setup different skills to plan out the labor budget against a project.

Resource Forecast Setup individual forecasts on resources and measure their performance against the budget.

Project Portfolio ManagementProgressus’ main project feature provides the ability to tie several projects together in a dynamic hierarchy for project portfolio management. This provides the ability to send one invoice to customers for multiple projects.

Purchase Reservations Record items or inventory against a project using the built-in purchase order process in Microsoft Dynamics 365 Business Central.

Materials ConsumptionRegister materials consumption directly on the project, as well as through existing inventory from the warehouse, once the purchase has been invoiced.

Track Project Labor and Expenses Effectively

Take control of your labor, project, and travel-related expenses. Accurate, timely cost information gives you the precise data you need make better business decisions. View and track labor, travel, and other expenses with a fully-integrated solution that allows out-of-pocket costs in project profitability calculations.

Desktop, Tablet and Mobile Device Time & Expense Entry

Simplify entry with a single interface for Time & Expense entry. Interfaces are available for desktops, tablets and smartphones to meet your employee’s needs. Streamline the collection of labor and project expenses with timesheets and expense reports that can be entered anytime, anywhere via the Web, fully validated, and available for online project manager approval.

Monitor Timesheets Quickly view the status of a timesheet to see if it needs to be submitted for approval, has been approved or if a timesheet needs to be created.

Improve Your View into Project Costs

Track labor and employee expenses easily on a project-by-project basis, with a complete overview of labor expenses and commitments that allows full drill-down to details.

Intuitive User InterfaceEmpower employees with timecards and expense reports that are single-point, easy-to-use time and expense applications with one intuitive interface that can be used from their Web browser or mobile device.

Impersonate User Securely impersonate another user in order to report hours/expenses for other resources.

Multi-Currency Expense Gain more control of your projects with the ability to report expenses in multiple currencies.

Time & Expense

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Gain Control Over Project Costs

Track, view, and analyze costs and revenues for individual projects that are still in progress. Margins can be predicted and controlled and future expenses easily viewed without waiting until the end of an accounting period.

Monitor Project Status Predefined stop lighting and customizable stop lighting helps monitor what is important to your company.

Enhance Project Collaboration

Provide accountants and project managers with a single system that enables them to use the same set of data for better analysis and project accountability. Project data can then be presented in terms that are easy for project managers to understand and use.

Improve Project Productivity

Take advantage of flexible project structures, billing rates, and more to make your project run efficient and effective. Costs are collected and charged to individual projects within a single integrated solution.

Instant Expense VisibilityTake known or expected expenses into account in Progressus. Record expenses such as subcontractors, purchasing, and labor charges as commitments as soon as they are entered—even before the end of an accounting period—to allow for the future cost.

Resource CostsProgressus provides distinct cost matrices for resources, resource groups and project specific costing. Working across activities, work types or date spans makes this a scalable feature.

Flexible Invoicing ControlInvoicing of any type is supported—Time and Material, Fixed Price, or Cost Plus. Assign various billing methods, rate structures and mark-up rules for each project or for a specific invoice and then generate invoices on demand.

Milestone Billing Set up billing schedules based on your determined milestones within the specified project.

Shorten Billing CyclesShorten billing cycles and improve cash flow by taking control of unbilled receivables and converting them more quickly to revenues. Streamline invoicing with invoice generation, formatting, and submission of Invoice Suggestions; then easily note needed corrections, approve invoices, and post receivables.

Revenue Recognition

Compliance Supports AICPA, FASB, and SEC regulations, including SOP 1-81, SAB 101, EITF -0021, VSOE, and Sarbanes-Oxley Section 404.

Options Multiple recognition options, including Work in Process, Sales, Cost and Budget vs. Actual, and Percent Complete

Project Cost Tracking

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KPIs Progressus provides automatic access to project factors, where it is possible to see client rate, invoice rate, earning rate and efficiency rate per resource.

DashboardsProgressus comes with 13 project-analysis Dashboards out of the box. Multiple windows can be opened at the same time making it easier to view data for several projects in one main window. Multiple projects can be viewed in one window so each project does not have to be opened separately.

Extensive Data Views View project data in a project summary, drilling down to view underlying information and get specific details about project transactions.

Easily Understandable Information

Enable project managers to analyze information more effectively by presenting project and task data in familiar profit and loss (P&L) formats.

Income AnalysisUsing income analysis you can create forecasts of your cash flow, pipeline, turnover, expenses, etc. Income analysis can be done across projects so data can be used for statistics or overviews.

A portion of one of the 13 project dashboards that come with Progressus.

Project Reporting, Analytics & Forecasting

Project Dashboards

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Core Business Management CapabilitiesBusiness Central core capabilities in business management include, but are not limited to, the following modules:

Customer Relationship ManagementContacts Maintain an overview of your contacts and record your contact information for all

business relationships.

Campaigns Organize campaigns based on segments of your contacts that you define.

Opportunity Management

Keep track of sales opportunities, section your sales processes into different stages, and use this information to manage your sales opportunities.

Enhanced CRM with Dynamics 365

Connect with additional Dynamics 365 modules in a few easy steps to for more robust marketing, sales, or customer service capabilities.

Financial ManagementGeneral Ledger Set up a company and start posting to the general ledger, chart of accounts, general

journals, VAT facilities, recurring journals, and source codes.

Accounts Receivable Post sales transactions in journals and manage receivables; register customers and manage receivables using general journals.

Accounts PayableSet up and maintain a vendor table, post purchase transactions in journals, and man-age payables. Includes the vendor table and enables you to generate vendor ledger entries using general journals.

Deferrals Set up deferral templates that automate the process of deferring revenues and expenses over a pre-defined schedule.

Fixed Assets Keep track of fixed assets and related transactions such as acquisitions, depreciations, write-downs, appreciations, and disposals

Audit Trials The system automatically assigns audit trails and posting descriptions to every transaction. In addition, users can define reason codes to create complementary audit trails.

Bank Account Management Create, operate, and manage multiple bank accounts for catering to your diverse business needs and across different currencies.

Reconciliation Reconcile your bank statement data automatically to open bank account ledger entries end keep track of all your bank statements.

Dimensions Add unlimited dimensions to any ledger for advanced transaction analyses.

Currencies Manage multiple currencies throughout the system, including payables and receivables, general ledger reports, resource and inventory items, and bank accounts.

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Service Order Management

Service Orders Register your after-sales issues including service requests, services due, service orders, and repair requests.

Service Price Management Set up, maintain, and monitor your service prices.

Service Item Management Record and keep track of all your service items, including contract information, compo-nent management, and BOM reference and warranty information.

Service Contract Management

Record details on service levels, response times, and discount levels, as well as on the service history of each contract, including used service items and parts and labor hours.

Planning Assign personnel to work orders and log details such as work order handling and work order status.

Dispatching Manage service personnel and field technician information, and filter according to avail-ability, skills, and stock items.

Supply Chain ManagementSales Orders Manage purchases, blanket orders, and purchase order processes.

Purchase Orders Manage purchases, blanket orders, and purchase order processes.

Inventory Set up items that you carry in your stock and specify their unit of measures, costing method, inventory posting group, unit cost and price and other properties.

Locations Manage inventory in multiple locations that may represent a production plant, distribu-tion center, warehouse, showroom, retail outlet, or service car.

Item Transfers Track inventory as it’s moved from one location to another and account for the value of inventory in transit at various locations.

Warehouse Management (Basic and Advanced)

Warehouse functionality in Business Central can be implemented in different complexity levels, depending on a company’s processes and order volume. The main difference is that activities are performed order-by-order in basic warehousing when they are consolidated for multiple orders in advanced warehousing.

Assembly Management To support companies that supply products to their customers by combining components in simple processes without the need of manufacturing functionality, Business Central includes features to assemble items that integrate with existing features, such as sales, planning, reservations, and warehousing.

Optional Business Management CapabilitiesBusiness Central has other capabilities that include, but are not limited to, the following modules:

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Manufacturing

Production Orders Create and manage production orders and post consumption and output to the production orders.

Production Bill of Materials Create bills of materials and calculate standard costs.

Version Management Create and manage different version of the manufacturing bill of materials and routings.

Supply Planning Plan for material requirements based on demand, with support for master production scheduling and materials requirements planning.

Demand ForecastingPlan and create production and purchase orders, taking into consideration the demand forecast together with the level of available inventory and parameters of requirement planning.

Capacity Planning Add capacities to the manufacturing process. Set up routings and use these routings on production orders and in material requirements planning.

Ready to learn how Velosio can drive your project-based business forward? Schedule a discovery session so we can learn your requirements.

Velosio helps you drive innovation and improvementVelosio helps your business stay relevant and modern by providing a clear path to the cloud for ERP, CRM and industry solutions.

We’re Dynamics 365 Business Central, advanced project accounting, and cloud technology experts who enable you to adapt quickly to the platform and accelerate time to market; drive innovation in your organization to transform customer interactions; and invest with confidence in the reliability, flexibility, and affordability of the Microsoft Cloud.

With more than 30 years of business systems experience, you can count on us to help you take advantage of all Business Central with Advanced Project Accounting has to offer. Our approach instills confidence and understanding as you migrate to #YourNext.

www.velosio.com/progressus

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Version 1.0 | 2019